Payless Holdings (2019)

Representation of the creditors’ committee in the second chapter 11 bankruptcy filing of Payless Holdings LLC . The debtor’s second filing came less than two years after it emerged from its previous bankruptcy, in which the firm also represented the creditors’ committee. The debtor was forced to file again after its prior reorganization left the company with a significant remaining debt, a large store footprint, and a yet-to-be-realized systems and corporate overhead structure consolidation. Payless closed all of its stores in the U.S. and Canada.